GMT Capital Corp Has $28.47 Million Stock Holdings in MGM Resorts International $MGM

GMT Capital Corp cut its stake in shares of MGM Resorts International (NYSE:MGM) by 21.5% during the fourth quarter, Holdings Channel reports. The firm owned 780,100 shares of the company’s stock after selling 213,800 shares during the quarter. MGM Resorts International makes up approximately 1.5% of GMT Capital Corp’s portfolio, making the stock its 14th largest holding. GMT Capital Corp’s holdings in MGM Resorts International were worth $28,466,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Davis Selected Advisers raised its position in shares of MGM Resorts International by 12.0% during the fourth quarter. Davis Selected Advisers now owns 26,820,202 shares of the company’s stock worth $978,669,000 after purchasing an additional 2,866,750 shares during the period. Vanguard Group Inc. raised its position in MGM Resorts International by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 23,782,004 shares of the company’s stock valued at $867,805,000 after buying an additional 205,127 shares during the period. AQR Capital Management LLC raised its position in MGM Resorts International by 202.5% during the third quarter. AQR Capital Management LLC now owns 8,446,982 shares of the company’s stock valued at $292,772,000 after buying an additional 5,654,757 shares during the period. Arrowstreet Capital Limited Partnership raised its position in MGM Resorts International by 81.4% during the third quarter. Arrowstreet Capital Limited Partnership now owns 7,642,060 shares of the company’s stock valued at $264,874,000 after buying an additional 3,429,946 shares during the period. Finally, State Street Corp raised its position in MGM Resorts International by 0.4% during the fourth quarter. State Street Corp now owns 7,517,622 shares of the company’s stock valued at $274,318,000 after buying an additional 30,962 shares during the period. 68.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MGM has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft upped their price target on MGM Resorts International from $48.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, June 2nd. JPMorgan Chase & Co. upped their price target on MGM Resorts International from $46.00 to $53.00 and gave the company an “overweight” rating in a research report on Friday. Weiss Ratings raised MGM Resorts International from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, May 15th. Barclays upped their price target on MGM Resorts International from $37.00 to $39.00 and gave the company an “equal weight” rating in a research report on Thursday, April 30th. Finally, KeyCorp raised MGM Resorts International from a “sector weight” rating to an “overweight” rating and set a $117.00 price target on the stock in a research report on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $50.18.

Insider Transactions at MGM Resorts International

In other news, major shareholder Iac Inc. bought 550,000 shares of the stock in a transaction on Monday, March 23rd. The shares were purchased at an average price of $37.30 per share, for a total transaction of $20,515,000.00. Following the completion of the purchase, the insider directly owned 66,372,350 shares of the company’s stock, valued at $2,475,688,655. This trade represents a 0.84% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniel J. Taylor sold 6,675 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $38.44, for a total value of $256,587.00. The SEC filing for this sale provides additional information. Insiders own 3.38% of the company’s stock.

MGM Resorts International Stock Performance

Shares of NYSE MGM opened at $48.91 on Friday. The business’s 50-day moving average price is $40.27 and its two-hundred day moving average price is $37.35. The company has a debt-to-equity ratio of 1.93, a current ratio of 1.33 and a quick ratio of 1.30. MGM Resorts International has a one year low of $29.18 and a one year high of $51.59. The company has a market capitalization of $12.51 billion, a P/E ratio of 67.93 and a beta of 1.31.

MGM Resorts International (NYSE:MGM) last issued its earnings results on Wednesday, April 29th. The company reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.07). MGM Resorts International had a net margin of 1.03% and a return on equity of 24.43%. The firm had revenue of $4.45 billion during the quarter, compared to analysts’ expectations of $4.37 billion. During the same quarter last year, the firm earned $0.69 EPS. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. Analysts anticipate that MGM Resorts International will post 1.95 earnings per share for the current fiscal year.

MGM Resorts International Company Profile

MGM Resorts International is a leading global hospitality and entertainment company that develops, owns and operates destination resorts, hotels and casinos. Its properties feature integrated gaming floors alongside luxury accommodations, fine dining and retail outlets, live entertainment venues and convention facilities. The company also offers loyalty programs, sports betting and digital gaming experiences to enhance guest engagement and drive repeat visitation.

The company traces its heritage to the opening of the original MGM Grand Hotel & Casino on the Las Vegas Strip in 1973.